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REAL ESTATE

ARZAN WEALTH Successfully Sells Another Property from “Single Tenant Portfolio” in USA
November 11, 2019

Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has successfully advised its clients on the sale of a fourth property (“The Property”) from the Single Tenant Portfolio in USA.

The Single Tenant Portfolio was acquired in June 2017, consisting of 6 single-tenant"...

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Salini Impregilo wins $1.3bn Saudi housing project deal
November 4, 2019

Salini Impregilo, an Italian specialist in the construction and civil engineering business, has won a $1.3-billion construction contract from the Saudi Arabia National Guard.

The project involves housing and urban planning on a large scale with the construction of 6,000 villas in an area of 7 million sq m to"...

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Select Group announces completion of Studio One in Dubai Marina
November 3, 2019

Select Group, UAE’s leading real estate developer, has begun handover of its premium urban development Studio One in Dubai Marina. Situated in the heart of the up and coming west-end of the Dubai Marina, Studio One is located within close proximity to the Bluewaters Island and next door to Wyndham and Rove hotels with a wide array of restaurants, supermarkets and salons nearby.

With"...

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Al Akaria, Triple Five to develop largest entertainment & shopping center
November 2, 2019

RIYADH — Al Akaria Saudi Real Estate Company, one of the largest publicly listed real estate developers on the Saudi stock exchange (Tadawul), announced its initial collaboration with Arabian Dream KSA, principally owned by Triple Five Worldwide, owner and developer of the three biggest retail and entertainment centers in North America – Mall of America, American Dream and West Edmonton Mall, to develop the world’s largest mixed use entertainment"...

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Expo 2020 buzz adds to positive traction in UAE realty market
November 2, 2019

Less than a year ahead of the World Expo 2020 Dubai, the buzz of one of the biggest global events is already being experienced by the market players across the sectors, particularly the UAE’s real estate industry, according to an expert.

“The upcoming Expo 2020 is adding to the business confidence of real estate investors, and there is positive traction in the market. More professionals"...

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Red Sea Development Co assembling 10bn Saudi riyal debt package for giga-project
October 31, 2019

The Red Sea Development Company is assembling a 10 billion Saudi riyal (Dh9.78bn) debt package in addition to the equity it has received from Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, as the company develops an area for tourists on the Red Sea slightly smaller than Belgium.

'There's no need for the capital from a bond or sukuk issue, between what we’re"...

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Cobra consortium top bidder for major Saudi sewage plant
October 31, 2019

A consortium of Spanish group Cobra and Saudi-based Tawzea has been chosen as the preferred bidder for the development of an independent sewage treatment plant (ISTP) near Taif city in the kingdom's Makkah province.

The winning consortium will be responsible for the development, design, financing, construction, commissioning, operation and maintenance of the 270,000-cu-m-per-day capacity plant, writes R Sushil Nair for TradeArabia News Service....

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SAMA: New residential mortgages jump 353%
October 30, 2019

RIYADH — The volume of new residential mortgages for individuals provided by banks and institutions continued to grow in the third quarter of 2019, the Saudi Arabian Monetary Authority (SAMA) revealed Tuesday in its latest monthly report.

The number of contracts in September 2019 jumped 353% with 16,816 contracts with increase of more than 13 thousand contracts, compared to 3714 contracts in September 2018.

The new residential loans"...

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LogiPoint signs agreement with Aramex for new hub
October 29, 2019

LogiPoint, a leading logistics business and the largest bonded and re-export zone in Saudi Arabia, has announced that it has signed a long-term agreement with Aramex, a leading global provider of comprehensive logistics and transportation solutions, for the construction of “Build-to-Suit” facilities for Aramex’s western province ground operations.

The"...

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Saudi developer awards Red Sea project footage deal
October 26, 2019

Saudi-based The Red Sea Development Company (TRSDC), the developer behind one of the world’s most ambitious tourism projects, has awarded a contract for a time-lapse photography system to document the construction progress at its ultra-luxury tourism destination coming up along the west coast of Saudi Arabia at the crossroads of the Middle East, Europe, Asia, and Africa.

After a competitive tender, the contract was awarded to EarthCam for the provision"...

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